Sangamon Sun

Sangamon Sun

Tuesday, October 15, 2019

Former state school employee Weber Jones paid in $120K to teachers' pension fund, could collect $2.25M in retirement

Schools

By Local Labs News Service | Jul 1, 2016


Former state school employee Judy Weber Jones, who retired in June 2016, saved $120,378 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weber Jones would collect as much as $2.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Weber Jones received $47,274 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weber Jones will have already received $146,119 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Gibson City-Melvin-Sibley Community Unified School District 5

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